Export momentum from China challenges car carrier availability

Strong China exports shift the PCTC supply outlook Chinese vehicle exports have consistently outperformed expectations in recent years, reaching roughly 8.3 million units in 2025, up more than 30% year-on-year, and electric vehicle exports rising close to 70% year-on-year, according to the China Passenger Car Association (CPCA) per Gasgoo. This surge has absorbed record levels […]

VLGC momentum continues this week

Positive sentiment across VLGC, Tanker & PCTC segments Tanker: Firm demand persists as geopolitical friction developsThe crude tanker market eased modestly week on week, with Aframax and suezmax rates correcting after a strong run, while VLCC activity remained firm on Middle East cargoes moving East. Despite the pullback, earnings across all three crude segments remain […]

Trump cuts India tariffs to further halt Russian oil

Deal could impact global trade flows and tanker demand President Donald Trump and Indian prime minister Narendra Modi announced a new trade agreement that sharply reduces US tariffs on Indian goods to 18% from much higher levels, while scrapping extra duties linked to India’s previous purchases of Russian oil. In return, India is said to […]

Singapore clears key milestone for ammonia bunkering

Singapore pilot proves ammonia bunkering viable, opening fuel transition path for VLGCs Singapore has completed a landmark ammonia bunkering pilot, becoming the first major port to confirm that ship-to-ship ammonia fuel transfers are technically and operationally feasible under real regulatory and traffic conditions. The Global Centre for Maritime Decarbonisation, a Singapore-based non-profit backed by government […]

VLGC outperformance highlights tightening LPG market

Crude earnings climb 16% week-on-week, reinforcing broad strength across tanker markets Tanker: Geopolitical risk and weather disruption drive strongest earnings in yearsThe tanker market strengthened sharply this week, led by VLCC and Aframax segments, as heightened geopolitical risk in the Middle East and persistent weather disruption tightened prompt tonnage availability. Charterer activity accelerated toward the […]

Venezuelan crude enters the mainstream market

Exports picking up rapidly following US intervention Venezuelan crude is re-entering the mainstream oil market following a new US-brokered export framework that allows traders to market up to 50m barrels of crude. Trafigura and Vitol have secured the first licences and are actively moving barrels, including the first direct shipment from Venezuela to the US […]

Aframax segment delivers standout performance

Strong Aframax performance, PCTC remains firm, and geopolitics influence flows Tanker: Aframax segment experiences strongest week in yearsThe tanker market remained firm overall, led by an exceptional week for the Aframax segment, where earnings surged across key routes amid tight tonnage availability and weather-related disruption. North Sea, Mediterranean and US Gulf markets all saw strong […]

Iran and Middle East security reshape tanker flows

Iran’s oil exports face both internal and external pressures Market focus around Iran has largely centred on military escalation and chokepoint risk in the Strait of Hormuz, but the more relevant supply risk is increasingly domestic. Iran is currently producing close to 5 million barrels per day of crude and other petroleum liquids, near multi-decade […]

Iran pressure puts China at the centre of crude trade shifts

US policy uncertainty raises volatility as Chinese buying patterns shape tanker demand Oil prices edged modestly higher over the week, supported by renewed geopolitical uncertainty linked to Iran. Brent traded around USD 64 per barrel and WTI near USD 60 per barrel as markets reacted to US signals of a tougher stance toward Tehran, including […]

Global momentum builds behind ammonia as a marine fuel

Norway accelerates ammonia readiness Norway continues to lead on ammonia adoption through targeted government support. Azane Infrastructure has secured approximately USD 43 million in ENOVA funding to develop three ammonia bunkering terminals along the Norwegian coast at Florø, Stavanger, and Mongstad. Expected to come online by 2029, these facilities are designed to provide the fuel […]